Mercury Systems Inc (NASDAQ:MRCY) shares reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $82.04 and last traded at $78.68, with a volume of 311693 shares. The stock had previously closed at $71.43.

The technology company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.11. Mercury Systems had a return on equity of 9.24% and a net margin of 6.99%. The firm had revenue of $176.96 million for the quarter, compared to analyst estimates of $171.98 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Mercury Systems’s quarterly revenue was up 15.8% on a year-over-year basis.

MRCY has been the topic of a number of recent analyst reports. Alembic Global Advisors raised Mercury Systems from a “neutral” rating to an “overweight” rating in a report on Wednesday, May 1st. Canaccord Genuity set a $107.00 target price on Columbia Sportswear and gave the company a “hold” rating in a report on Friday, April 26th. BidaskClub lowered Zai Lab from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $70.25.

In other Mercury Systems news, insider Mark Aslett sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $68.42, for a total value of $684,200.00. Following the sale, the insider now owns 327,440 shares of the company’s stock, valued at $22,403,444.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 30,000 shares of company stock worth $2,024,200 in the last three months. 2.80% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of MRCY. Aperio Group LLC grew its stake in Mercury Systems by 21.7% during the 2nd quarter. Aperio Group LLC now owns 16,395 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 2,922 shares in the last quarter. KBC Group NV grew its stake in Mercury Systems by 17.9% during the 2nd quarter. KBC Group NV now owns 21,772 shares of the technology company’s stock valued at $1,532,000 after purchasing an additional 3,309 shares in the last quarter. First Trust Advisors LP grew its stake in Mercury Systems by 41.4% during the 2nd quarter. First Trust Advisors LP now owns 85,555 shares of the technology company’s stock valued at $6,019,000 after purchasing an additional 25,028 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Mercury Systems by 11.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,265 shares of the technology company’s stock valued at $230,000 after purchasing an additional 332 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its stake in Mercury Systems by 24.0% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,902 shares of the technology company’s stock valued at $2,526,000 after purchasing an additional 6,960 shares in the last quarter. Institutional investors and hedge funds own 84.38% of the company’s stock.

The stock’s 50 day moving average is $69.78. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.13 and a current ratio of 4.53. The firm has a market cap of $4.30 billion, a PE ratio of 69.95, a price-to-earnings-growth ratio of 3.98 and a beta of 1.10.

About Mercury Systems (NASDAQ:MRCY)

Mercury Systems, Inc provides sensor and safety critical mission processing subsystems for various critical defense and intelligence programs in the United States. Its products and solutions are deployed in approximately 300 programs with 25 defense contractors. The company's principal programs include Aegis, Patriot, Surface Electronic Warfare Improvement Program, Gorgon Stare, Predator, F-35, Reaper, F-16 SABR, E2D Hawkeye, Paveway, Filthy Buzzard, PGK, ProVision, P1, and AIDEWS.

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